Vermilion Energy posts first-quarter loss on unrealized derivative loss

A production manager for Canadian based Vermilion oil company, watches an oil rig in Andrezel, south east of Paris.

CALGARY — Vermilion Energy Inc. reported a loss of $145.5 million in its latest quarter, weighed down by a $286-million unrealized loss on derivatives due to increases in oil and gas prices.

The company says the loss amounted to 95 cents per diluted share for the quarter ended March 31.

The result compared with a profit of $15 million or 10 cents per diluted share in the same quarter last year.

Funds from operations amounted to $1.49 per diluted share, down from $1.65 per diluted share a year earlier.

Petroleum and natural gas revenue totalled $487.9 million, up from $454.9 million in the first quarter of 2025.

Production totalled 125,618 barrels of oil equivalent per day, up from 103,115 boepd a year ago.

This report by The Canadian Press was first published May 6, 2026.